Enterprise data management (EDM) focuses on the creation of accurate, consistent, and transparent content. Typically, EDM emphasizes data precision, granularity, and meaning, and is concerned with how the content is integrated into business applications as well as how it is passed along from one business process to another. Organizational functions such as compliance management, risk management, operating efficiencies, effective client relationships, and marketing rely on the accuracy of data for effective decision making. Multiple business groups such as risk, operations, trading, compliance, or the like, within an organization, view the same information differently. This can lead to challenges in ensuring data quality, definitions, information storage, and control.
There is a need for a framework and establish guiding principles for efficient data management.